You can get Spanish citizenship for S$250,000

[LITTLEREDDOT]

[h=1]Spain offers residency to anyone buying a home worth more than £130,000 in bid to save its housing market[/h]

• Spain has more than 700,000 unsold houses after real estate market collapse
• New policy would see foreigners given residency permits if they buy houses worth more than 160,000 euros - approximately £128,500

By Daily Mail Reporter
PUBLISHED: 17:19 GMT, 19 November 2012 | UPDATED: 17:19 GMT, 19 November 2012

• Comments (151)
• Share
• • <iframe style="margin: 0px; left: 0px; top: 0px; width: 90px; height: 20px; visibility: visible; position: static;" id="I0_1353382168426" title="+1" tabIndex="0" marginHeight="0" src="https://plusone.google.com/_/+1/fastbutton?bsv&aria-haspopup=&aria-disabled=&accesskey=&aria-hidden=&hidefocus=false&dir=&aria-expanded=&id=&aria-level=0&lang=&aria-busy=&language=&aria-checked=&aria-readonly=&aria-secret=&class=&title=&role=&disabled=false&aria-posinset=0&tabindex=0&aria-relevant=&aria-live=&aria-labelledby=&aria-pressed=&aria-invalid=&aria-valuenow=&aria-selected=&aria-owns=&aria-valuemax=&aria-valuemin=&contenteditable=inherit&aria-setsize=0&aria-controls=&aria-flowto=&aria-required=&aria-describedby=&aria-activedescendant=&aria-multiselectable=&size=medium&hl=en-GB&origin=http%3A%2F%2Fwww.dailymail.co.uk&url=http%3A%2F%2Fwww.dailymail.co.uk%2Fnews%2Farticle-2235318%2FSpain-offers-residency-buying-home-worth-130-000-bid-save-housing-market.html%3FprintingPage%3Dtrue&jsh=m%3B%2F_%2Fapps-static%2F_%2Fjs%2Fgapi%2F__features__%2Frt%3Dj%2Fver%3DYD75CBn3CAg.en.%2Fsv%3D1%2Fam%3D!32nMrkczB1mI8ivfNQ%2Fd%3D1%2Frs%3DAItRSTPK3_kRqom2qn4ZNHwJoRu1pXoBTg#_methods=onPlusOne%2C_ready%2C_close%2C_open%2C_resizeMe%2C_renderstart%2Concircled&id=I0_1353382168426&parent=http%3A%2F%2Fwww.dailymail.co.uk" frameBorder="0" width="100%" allowTransparency="" name="I0_1353382168426" marginWidth="0" scrolling="no"></iframe>
    
  • <iframe style="width: 110px; height: 20px;" class="twitter-share-button twitter-count-horizontal" title="Twitter Tweet Button" src="http://platform.twitter.com/widgets/tweet_button.1352365724.html#_=1353382171637&count=horizontal&counturl=http%3A%2F%2Fwww.dailymail.co.uk%2Fnews%2Farticle-2235318%2FSpain-offers-residency-buying-home-worth-130-000-bid-save-housing-market.html&id=twitter-widget-0&lang=en&original_referer=http%3A%2F%2Fwww.dailymail.co.uk%2Fnews%2Farticle-2235318%2FSpain-offers-residency-buying-home-worth-130-000-bid-save-housing-market.html%3FprintingPage%3Dtrue&size=m&text=Spain%20offers%20residency%20to%20anyone%20buying%20a%20home%20worth%20more%20than%20%C2%A3130%2C000%20in%20bid%20to%20save%20its%20housing...&url=http%3A%2F%2Fbit.ly%2FTMDUtT&via=MailOnline" frameBorder="0" allowTransparency="" scrolling="no" data-twttr-rendered="true"></iframe>
  • <FB:like class=" fb_edge_widget_with_comment fb_iframe_widget" fb-xfbml-state="parsed" send="false" layout="button_count" width="90" show_faces="false"></FB:like>

Spain plans to offer foreigners residency permits if they buy houses worth more than 160,000 euros - approximately £128,500 - to try and reduce the country's bloated stock of unsold homes.
Spain currently has more than 700,000 unsold houses following the collapse of its real estate market in 2008.
Trade Ministry secretary Jaime Garcia-Legaz said the plan, expected to be approved in the coming weeks, would be aimed principally at the Chinese and Russian markets as the domestic demand was stagnant and showed no sign of improving.

Badly hit: Spain has more than 700,000 unsold homes sitting vacant after its property boom collapsed in 2008

New measures: Foreigners who buy property worth more than 160,000 euros - approximately £128,500 - would be given residency permits under new proposals

The country's economy is still struggling and is currently in recession with 25 per cent unemployment.


Thousands of houses have been repossessed by banks and their owners evicted because they cannot pay their mortgages.
[h=4]More...[/h]

• Revealed: Average credit-card user in U.S. owes $5,000 as consumers continue to rack up debts despite sluggish economy
• £6,000 per square foot: London leads the world in 'super-prime' housing and property experts say the capital's popularity shows no signs of waning
• Eurozone falls into ANOTHER double-dip recession as even Germany totters and anti-austerity protests sweep the continent

The government last week approved a decree under which evictions would be suspended for two years in specific cases of extreme need.

The country's offer beats others in bailed-out countries such as Ireland and Portugal, where residency papers are offered to foreigners buying houses worth more than 400,000 euros - around £322,000) and 500,000 euros - approximately £402,000 respectively. It was not immediately clear if the residency would only refer to Spain, and not the European Union.

The stricken state of the country's real estate market was highlighted Monday by figures from the Bank of Spain which showed that the level of bad debt in the country's banks had risen to a record 10.7 per cent of their loan total in September.

Struggling: Many home owners in Spain have been struggling to pay their mortgages

Unhappy: Residents in Madrid pictured protesting against evictions at the beginning of November after an estimated 350,000 were evicted from their homes in the wake of the recession


The bank said the amount totaled 182 billion euros, up from 179 billion euros in August - the 15th monthly increase in a row.

The 16 other countries that use the euro have agreed to lend Spain up to 100 billion to help support the country's banks weighed down by these bad loans and investments.

On top of the bank loan, Spain has been under pressure to apply for more outside financial aid to help it manage its debt and deficit.

The European Central Bank has insisted on the move before it will make good on its pledge to buy the bonds of certain troubled countries to help lower their borrowing costs.

Spain says it is waiting to know all the conditions that might come attached to the rescue package before making a decision.

New rules: A new decree means housing evictions for failing to pay mortgages can be suspended for two years in extreme cases

 

[LITTLEREDDOT]

This is also the reason why SG property market will never collapse. PAP will just offer SG citizenship to any Ah Tiongs, Ah Nehs etc who will buy a, say, SGD1m property.

 

[tonychat]

when you sell something cheap, the quality is cheap too.

 

[ray_of_hope]

Residency is not the same as citizenship.

 

[Kinana]

I now see the wisdom of Singapore not over building like in the west.

 

[Cestbon]

Spain bankrupt liao very hard to get job. 1/4 is jobless.

 

[ray_of_hope]

Spain bankrupt liao very hard to get job. 1/4 is jobless.

Stay there and invest in the stock market.

 

[Cestbon]

Stay there and invest in the stock market.

Good ideas. Stock no need to pay tax.

 

[scroobal]

Both Spain and Portugal have low cost of living. Very affordable and great weather. Good place for retirees.

Stay there and invest in the stock market.

 

[Kinana]

Both Spain and Portugal have low cost of living. Very affordable and great weather. Good place for retirees.

Good, sell your HDB and migrate there and live like a king.

 

[neddy]

It has been a favourite among Brits to work in Gibraltar and live in a Spanish village.

Other than learning Spanish and eat at strange hours, it is a bit like living in Australia.
Singapore chinese can probably pass themselves off as native Mexicans if they speak Spanish.

The food may be too salty for some.

Just beware of gypsies.

 

[ray_of_hope]

Both Spain and Portugal have low cost of living. Very affordable and great weather. Good place for retirees.

Those are clearly the positives, although there are negatives as well (such as with severe unemployment comes crime and resentment towards foreigners). But at some point in life some of us are game for taking on challenges.

 

[Bigfuck]

This is also the reason why SG property market will never collapse. PAP will just offer SG citizenship to any Ah Tiongs, Ah Nehs etc who will buy a, say, SGD1m property.

Wait till USA offers theirs for shocking 150K SGD. Leegime can stay behind and rule whatever they want. 80% of original Singaporeans will migrate. Leegime can deal with PIIGS, Tiongs & Indians as well as Russians as their superior breed.

 

[wMulew]

This is also the reason why SG property market will never collapse. PAP will just offer SG citizenship to any Ah Tiongs, Ah Nehs etc who will buy a, say, SGD1m property.

Please don't compare SG with cheap Spanish. Our citizenship requirements is $2M. Spain is not even half a mil

 

[Bigfuck]

Please don't compare SG with cheap Spanish. Our citizenship requirements is $2M. Spain is not even half a mil

Boohaha. IB out to defend their taxpayer dollar pay. SG is overpriced. Hashima tax haven sure kenna sai soon. Ho Ching Gangam style.

 

[eatshitndie]

Wait till USA offers theirs for shocking 150K SGD.

still cheap in vegas. usd90k for a detached house. but no green card.

 

[eatshitndie]

Those are clearly the positives, although there are negatives as well (such as with severe unemployment comes crime and resentment towards foreigners). But at some point in life some of us are game for taking on challenges.

prices were much lower on a restaurant menu when it was in pesetas. when the currency was converted to euros, everything became more expensive. a carne dish is now at least €13. used to be less than usd10. everything has doubled, and inflation is also contributing to hardships for locals and lack of appeal for u.s. tourists. similar to greece. u.s. tourists are shunning these former cheap haunts due to high prices in €. better for them to dump the euro.

 

[jubilee1919]

1 in 4 businesses are created by the Chinese in Spain and there are more than 165,000 living there. They are doing well despite the recession and if you are a Singaporean Chinese, you should be doing fine too.

 

[eatshitndie]

1 in 4 businesses are created by the Chinese in Spain and there are more than 165,000 living there.

espana will soon expire and be renamed eschina. :p

 

[aurvandil]

If they are granting citizenship with passport, it is a steal.

Both Spain and Portugal have low cost of living. Very affordable and great weather. Good place for retirees.